the sector In a Motley Fool article yesterday, there were some interesting comments about Teledoc's ambitions.
https://www.fool.com/investing/2021/03/10/3-top-stocks-to-buy-during-this-market-crash/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article
See that it is hoping to improve its market share in Canada, Australia and New Zealand. So keep you eye on Teledoc as a potential competitor, collaborator or perhaps even acquirer.
What is striking in this sector is that provincial and national boundaries are falling away. Any company now can have the entire world population for its customers. When I grew up health care was a strictly provincial (Ontario) matter. Those days are gone.
Teledoc has a market cap of 28 billion, whereas Well is 1.3 billion, so it dwarfs Well in size. It is certainly a leader in the sector and its revenues are increasing year over year at a dramatic rate. At the other end of the spectrum there are a raft of IPOs coming on board with health care tech success stories. One such story to keep your eye on is Dialogue from Montreal, which will be launching an IPO which values the company at 500 mill.
Exciting times indeed. Glad to be part of it all.
2. Teladoc
Teladoc is a leading tele-consultation platform that doubled its revenue last year to an all-time high of $1.09 billion. It saw as many as 12.7 million virtual visits with physicians in 2020, representing a staggering 206% increase over 2019. The company is looking to become a one-stop virtual shop for all healthcare needs, from telepsychiatry to filling prescriptions to managing chronic conditions like hypertension.
This year, it expects to further increase its revenue to upwards of $2 billion. Teladoc also seeks to improve its market share internationally, especially in Canada, Australia, and New Zealand. At the end of the day, 16 times revenue is not a bad price to pay for a company on its way to double its sales again this year, and I don't think that investors interested in healthcare stocks could do wrong by adding it to their portfolios.